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Friday, November 2, 2012

MasterCard, Thomas Cook tie up for prepaid travel card

Thomas Cook (India), an integrated travel and travel-related financial services company, today launched its prepaid foreign exchange travel card in collaboration with MasterCard Worldwide.

The ‘borderless prepaid card’ enables travellers with the option of loading eight currencies on a single card - US Dollars, British Pounds, Euro, Australian Dollars, Canadian Dollars, Swiss Francs, Singapore Dollars and Japanese Yen.

It is a multi-currency card with a validity of five years, within which the cardholder can get the visiting country’s currency loaded on the card, thereby, saving money and time. An embedded chip and PIN ensures security and increased protection against counterfeiting and skimming card frauds, the company said.

A free replacement of the card in case stolen or lost within 72 hours and a 24x7 global emergency assistance available via toll free access in over 80 countries.

“We are now focusing more on the retail segment as we see the travel patterns in India are changing,” said Madhavan Menon, Managing Director, Thomas Cook (India). As per a Consumer Segmentation Study conducted by MasterCard in July 2011, 36.7 per cent affluent Indians want to go overseas for a holiday.

The collaboration with MasterCard, a global payments and technology company will provide an acceptance at over 34.3 million merchant establishments, e-commerce websites and access to 2 million ATMs, Thomas Cook said.

T.V. Seshadri Division President, South Asia, MasterCard Worldwide, said: “We see this card as a significant step forward in our goal to become the card of choice for the overseas travellers.”


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